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STS Group AG: Successful entry into the North American commercial vehicle market

2018| Jul| 24
Financial News

DGAP-News: STS Group AG / Key word(s): Incoming Orders

24.07.2018 / 07:30
The issuer is solely responsible for the content of this announcement.

STS Group AG: Successful entry into the North American commercial vehicle market

Hallbergmoos/Munich, 24 July 2018 - STS Group AG (ISIN: DE000A1TNU68) has reached an important milestone on its strategic growth path: For the first time, the system supplier for the commercial vehicle industry listed in the Prime Standard segment of the Frankfurt Stock Exchange has won one of the major commercial vehicle manufacturers based in North America as a customer. From the second half of 2021, STS Group will supply driver cabin parts for heavy trucks to the customer. The contract has a term of 10 years.

The entry into the North American commercial vehicle market, which includes the USA, Canada and Mexico, is one of the corporate goals of the STS Group announced at the IPO: "This agreement with one of the important US brand manufacturers for heavy trucks has great strategic significance for us. This new order is an immense step forward in achieving our growth targets," comments Andreas Becker, CEO of STS Group.

The STS Group has its own production facility in Ramos, Mexico, which supplies the local automotive industry. Now, for the first time, exterior trim and aerodynamic parts are being produced there for one of the major American commercial vehicle manufacturers. The material used here is SMC (Sheet Moulded Compound), which is processed in the thermocompression process and is easy to form and combines high stability with low weight. The STS Group has many years of expertise in the manufacture of exterior trim components and systems for heavy commercial vehicles.

About the STS Group:
STS Group AG, ((ISIN: DE000A1TNU68), is a leading global commercial vehicle system supplier to the automotive industry for soft and hard trim. The Group, which has a history of tradition and expertise dating back to 1934, employs more than 2,500 people worldwide and generated pro forma revenue of more than EUR 425 million in 2017. At its 16 plants in total in France, Italy, Germany, Poland, Mexico, Brazil and China, the STS Group produces plastic and acoustic components, such as solid and flexible vehicle trim, noise and vibration-damping materials and entire interior and exterior trim systems. STS is considered a technology leader in the manufacture of plastic injection molding, specialty acoustic products and components of sheet molding compounds (SMC). STS has a strong footprintwith plants in China, Europe, Mexico and Brazil. The customer portfolio comprises leading international commercial vehicle and automotive manufacturers.

STS Group AG
Zeppelinstrasse 4
85399 Hallbergmoos, Germany

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24.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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